Bank Captures 80 Times More Security Video and Lowers Fraud Rate With Intelligent Surveillance
NEW YORK, NY--(Marketwire - October 28, 2009) - ISC EAST -- 3VR
Security Inc., the leader in intelligent
surveillance and search, today announced that customer Union Savings Bank has
successfully leveraged 3VR's powerful search-based surveillance and
advanced analytics technology to capture 80 times more usable security
video and maintain one of the industry's lowest fraud rates.
"We're very proud of the protection we provide our customers and
employees," said Bill McNamara, senior vice president, Union Savings Bank.
"3VR is a core element of how we maintain dramatically lower fraud rates
than our peers."
Union Savings' use of technology, including 3VR's intelligent
surveillance platform, in addition to strong employee education and
sound security practices, has led the bank to experience much less crime
than many other suburban banks in the Northeast. Although Union Savings
does not release its fraud statistics, the addition of 3VR has helped the
bank significantly reduce fraud to a level that is much lower than typical
industry averages.
Union Savings Bank has deployed 3VR SmartRecorders in every one of its
18 branches, and as a result is capturing 80 times more usable security
video. 3VR's high video quality, rapid searchability, analytics and case
management tools have also simultaneously expedited and lowered the cost of
investigations. Using 3VR technology, security personnel are able to
rapidly pinpoint the relevant video to identify potential criminals and
quickly research perpetrated crimes, rather than search through hours of
footage to gather the necessary information. Furthermore, once the evidence
is turned over to the police, it is also more relevant and of superior
quality, making the cases more enforceable.
In light of the success of the branch-level deployment, Union Savings Bank
has also installed the 3VR solution to bolster the security of its new
corporate headquarters. With 3VR's unique license plate recognition
capabilities, the solution is able to capture the license plate of every
car that enters or exits the parking lot, enabling security staff to easily
identify and locate any vehicle of interest.
"We are committed to keeping our security systems up-to-date with the most
current and sophisticated technology, and 3VR is an integral part of our
approach," said Bob Paquette, senior security analyst, Union Savings Bank.
"The system allows us to research and pinpoint questionable activities and
do so in an effective and timely fashion. The 3VR solution is more
efficient and effective than any other system we have ever employed here at
the bank."
"Union Savings is leading the way for other financial institutions by
leveraging the most advanced technology on the market to secure both its
branch locations and its corporate headquarters," said Al Shipp, CEO, 3VR.
"They've taken a savvy, proactive approach to improving their security
operations that has been very successful, and their dramatically low fraud
rate speaks for itself."
About 3VR
3VR Security, Inc. is the global leader in Intelligent Surveillance and
Search (ISS) -- a faster, more reliable, and less expensive way to fight
crime, ensure people's safety and improve business efficiency. With 250
billion hours of video captured every year in the U.S., the award-winning
3VR Intelligent Surveillance Platform makes it possible to efficiently mine
and manage it. 3VR is the security standard for hundreds of global
customers, including leading banks, retailers, governments and law
enforcement agencies. Based in San Francisco, CA, the company is privately
held with funding from Kleiner Perkins Caulfield & Buyers, VantagePoint
Ventures, In-Q-Tel and DAG Ventures. 3VR's SmartRecorder is the three-time
winner of the SIA Best New Video Product Award and was named Security
Product of the Year from Frost & Sullivan in 2006 and 2007, among other
awards. For more information, please visit www.3vr.com.
About Union Savings Bank
Established in 1866 and headquartered in Danbury, Conn., Union Savings Bank
is a $2.0 billion mutual bank dedicated to providing excellent customer
service to its customers and communities. As a full-service financial
institution, Union Savings Bank provides banking, mortgage, investment and
insurance products throughout western Connecticut with eighteen offices in
Bethel, Bridgewater, Brookfield, Danbury, Kent, New Fairfield, Newtown, New
Milford, Ridgefield, Sharon and Southbury. For more information, visit
www.unionsavings.com.
Contact Information: Media Contacts
Whitney Glockner
3VR Security, Inc.
wglockner(at)3vr(dot)com
+1 415 874 2527
Dana Zemack or Virginia Zimpel
LaunchSquad
3vr(at)launchsquad(dot)com
+1 415 625 8555